When the hopium that wall street is smoking runs out. Probably the end of November.

Hahaha no disrespect, but I’ve been seeing almost this exact conversation continually for at least 20 years (the number of years I’ve been curious about economics).

At this stage, it doesn’t matter what runs out, who takes the fall, or anything else (save the democratic power of the people): the power structure will do whatever it takes to maintain that house of cards.

Fractional reserve lending alone can prop up the system almost indefinitely. (Feel free to debate this if you feel strongly, but A. it’s only 1 tool in the garage, and B. Arguments about “they can’t” or “it’s not legal” are irrelevant because they will simply change or circumvent the law.)

If half of small business are destroyed, who benefits? Wall Street will emerge from this with far greater control.

I've been saying this since QE1. A nation cannot continuously devalue it's currency forever while producing less and less of value. The collapse has already happened and we're just running on fumes.

The nation produces hope. Hope is worth something.

It’s worth market “utility”, but not value. That is the point.

> What a house of cards the U.S. economy is.

No, actually pre-corona it was the strongest in world history because the US actually makes things, unlike the European "sick men" welfare economies.

My concerns are:

1) the societal rot that has set in, that will ultimately weaken the US and has already resulted in a populist President. Health insurance and education costs are an assault on the middle class and small business owners.

2) the monetary life support provided to Wall Street since 2008 with no effort at unwinding federal support for private industry since then. We've doubled-down during corona.